v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Common Stock
Our Board of Directors (the Board) has authorized certain programs to repurchase shares of our common stock. These programs have generally permitted repurchases to be made from time to time in the open market, through privately-negotiated transactions, through block transactions, through accelerated share repurchase programs or otherwise. The manner, timing and amount of repurchases will be determined by our management based on the evaluation of market conditions, stock price and other factors.
On November 2, 2022, the Board authorized the repurchase of up to $3 billion of CF Holdings common stock effective through December 31, 2025 (the 2022 Share Repurchase Program). On May 6, 2025, the Board authorized the repurchase of up to $2 billion of CF Holdings common stock commencing upon the completion of the 2022 Share Repurchase Program and effective through December 31, 2029 (the 2025 Share Repurchase Program). In October 2025, we completed the 2022 Share Repurchase Program and commenced repurchases under the 2025 Share Repurchase Program.
The following table summarizes the share repurchases under the 2025 Share Repurchase Program through June 30, 2026.
Shares
Amounts(1)
(in millions)
Shares repurchased in 2025:
Fourth quarter3.4 $278 
Total shares repurchased in 20253.4 $278 
Shares repurchased in 2026:
First quarter0.2 $15 
Second quarter2.0 230 
Total shares repurchased in 20262.2 $245 
Shares repurchased as of June 30, 2026
5.6 $523 
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(1)As defined in the 2025 Share Repurchase Program, amounts reflect the price paid for the shares of common stock repurchased, excluding commissions paid to brokers and excise taxes.
In the six months ended June 30, 2026, we repurchased approximately 2.2 million shares under the 2025 Share Repurchase Program for $245 million, of which $5 million was accrued and unpaid as of June 30, 2026. In the six months ended June 30, 2026, we retired approximately 2.2 million shares of repurchased stock, and we held 45,854 shares of treasury stock as of June 30, 2026.
In the six months ended June 30, 2025, we repurchased approximately 8.2 million shares under the 2022 Share Repurchase Program for $636 million, and we retired approximately 8.3 million shares of repurchased stock.
Accumulated Other Comprehensive Loss
Changes to accumulated other comprehensive loss and the impact on other comprehensive income (loss) are as follows:
Foreign
Currency
Translation
Adjustment		Unrealized
Gain on
Derivatives		Defined
Benefit
Plans		Accumulated
Other
Comprehensive Loss
(in millions)
Balance as of December 31, 2025$(151)$3 $(87)$(235)
Effect of exchange rate changes and deferred taxes(43)(1)2 (42)
Balance as of June 30, 2026$(194)$2 $(85)$(277)
Balance as of December 31, 2024$(221)$3 $(62)$(280)
Loss arising during the period— — (1)(1)
Effect of exchange rate changes and deferred taxes85 — (6)79 
Balance as of June 30, 2025$(136)$3 $(69)$(202)